USD/KRW may rise 547 - 827 pips

Our pivot point stands at 1363.50.

Our preference

Rebound towards 1375.40.

Alternative scenario

Below 1363.50, expect 1358.90 and 1356.20.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1367.10 and 1369.30).

Supports and resistances

1380.80 **

1378.10 *

1375.40 **

1372.60

1367.13 last

1365.30

1363.50 **

1358.90 *

1356.20 **

Number of asterisks represents the strength of support and resistance levels.